Arizona State Retirement System Buys 11,455 Shares of New Fortress Energy Inc. (NASDAQ:NFE)

Arizona State Retirement System boosted its stake in New Fortress Energy Inc. (NASDAQ:NFE) by 64.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,170 shares of the company’s stock after purchasing an additional 11,455 shares during the period. Arizona State Retirement System’s holdings in New Fortress Energy were worth $441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. KBC Group NV lifted its stake in New Fortress Energy by 116.9% in the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after purchasing an additional 1,852 shares during the last quarter. US Bancorp DE lifted its stake in New Fortress Energy by 344.6% in the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after purchasing an additional 2,767 shares during the last quarter. Allworth Financial LP lifted its stake in New Fortress Energy by 2,156.0% in the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after purchasing an additional 1,962 shares during the last quarter. GAMMA Investing LLC lifted its stake in New Fortress Energy by 148.5% in the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in New Fortress Energy in the 3rd quarter valued at approximately $101,000. Institutional investors own 58.61% of the company’s stock.

New Fortress Energy Price Performance

NFE stock opened at $9.26 on Friday. New Fortress Energy Inc. has a 52-week low of $7.58 and a 52-week high of $31.89. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The company has a fifty day moving average price of $12.73 and a 200-day moving average price of $11.42. The company has a market capitalization of $2.52 billion, a P/E ratio of 10.18 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last posted its quarterly earnings data on Monday, March 3rd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $613.24 million. As a group, equities analysts expect that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NFE. Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a research note on Wednesday, December 4th. Morgan Stanley dropped their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus dropped their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.60.

Insider Transactions at New Fortress Energy

In other news, CFO Christopher S. Guinta acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the transaction, the chief financial officer now directly owns 206,653 shares in the company, valued at $1,771,016.21. This represents a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 37.10% of the stock is currently owned by corporate insiders.

About New Fortress Energy

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.